06/12/2026
Did you know that Tennessee ranked 20th in the United States for losses from victims aged 60 and older? In 2025, scammers took over $108 million of their savings. Tennessee ranked 19th overall in losses as scammers claimed over $269 million from victims of all ages. Cryptocurrency losses accounted for $142 million of the losses.
Ahead of on Monday, June 15, the Tennessee Department of Commerce & Insurance’s (TDCI) Division of Securities reminds seniors and their caregivers to learn the signs of financial fraud before a scammer strikes.
To assist senior investors and their loved ones, reminds Tennesseans to always be cautious when it comes to investing in products such as cryptocurrency and any “virtual” investments.
-Understand the risks of all investments and make sure you are comfortable with them, including the possibility that you might lose your entire investment.
-Name a trusted contact as a “safety net” for your brokerage account. It allows your financial firm to contact someone you trust if they suspect fraud or cannot reach you.
-Report locally – if you suspect a senior is being targeted, contact TDCI’s Securities Division immediately. Early reporting is the most effective way to recover lost funds.
Follow the link in our bio to contact us or here to learn more: https://www.tn.gov/commerce/news/2026/6/4/tdci-shares-investor-protection-tips-ahead-of-world-elder-abuse-awareness-day--monday--june-15--2026-.html
